Anesthesia gases play a vital role during surgical procedures to provide conscious sedation and pain management to patients. There are different types of anesthesia gases including nitrous oxide, desflurane, sevoflurane, isoflurane and xenon gas used alone or in combination for general anesthesia. Anesthesia gases are widely used in hospitals and ambulatory surgical centers during various surgical procedures such as dental surgery, cosmetic surgery, orthopedic surgery and cardiovascular surgery. The global anesthesia gases market is primarily driven by the increasing number of surgical procedures performed globally due to the rising prevalence of chronic diseases and accidents. It is estimated that over 313 million major surgical procedures are performed worldwide each year. The high adoption of anesthesia during surgeries ensures safety and comfort of patients during invasive medical procedures and promotes faster recovery.
The global anesthesia gases market is estimated to be valued at US$ 2182.32 million in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising number of surgical procedures is one of the major drivers of the anesthesia gases market. Chronic diseases such as cardiovascular diseases, cancer and diabetes are increasing at an alarming rate globally. It is estimated that by 2030, almost 25 million people will die from cardiovascular diseases. Similarly, cancer burden is projected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths by 2040. Increased incidence of chronic and lifestyle diseases has contributed significantly to the rising surgical volume worldwide. According to World Health Organization (WHO) estimates, over 313 million major surgical procedures were performed globally in 2012.Second major driver is growing geriatric population. Population aged 65 years and above is more prone to chronic diseases and disability due to old age. It is estimated that number of aging population will nearly double from 12% to 22% between 2015 and 2050. Older patients often require surgical intervention for treatment and management of age-related health conditions. This in turn is expected to propel the demand for anesthesia gases during surgical procedures.
Segment Analysis
The global anesthesia gases market is segmented based on type, application, end user and geography. By type, the market is classified into nitrous oxide, xenon, ether, and others. The nitrous oxide segment dominated the market in 2020 and is expected to continue its dominance over the forecast period. Nitrous oxide is commonly used as general anesthetic and analgesic due to its rapid onset and offset of action and relatively safe nature.
PEST Analysis
Political: Healthcare policies and regulations regarding the use of anesthesia gases vary across regions and countries. Stringent approval process for new anesthesia gases may impact market growth.
Economic: Rising healthcare spending increases access to advanced anesthesia procedures which is a key driver for market growth. However, unstable economic conditions affects market growth.
Social: Increasing number of surgical procedures owing to rising chronic diseases and growing geriatric population drives market demand. However, concerns regarding environmental effects of certain anesthesia gases act as a restraint.
Technological: Advancements in equipment and techniques used for administering anesthesia gases help improve patient outcomes. Portable anesthesia machines enable flexible use in different clinical settings.
Key Takeaways
The global anesthesia gases market size was valued at US$ 2182.32 million in 2024 and is projected to reach US$ 4736.57 million by 2031, growing at a CAGR of 11% during the forecast period.
Regional analysis
North America dominates the market and is estimated to maintain its lead over the forecast period. Factors such as high healthcare spending, growing chronic disorders, reimbursement policies, and presence of key players drive the market in North America. Europe accounts for a significant share in the global market owing to increased accessibility of advanced healthcare facilities and growing medical tourism.
Key players
Key players operating in the anesthesia gases market are Air Liquide, Linde plc, Praxair, Colfax Corporation, Ellenbarrie Industrial Gases, Messer Group, Air Products and Chemicals Inc, and ATOM Medical Corporation. These players concentrate on launching innovative products and expanding business through strategic mergers and acquisitions to strengthen their foothold in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
